Because the supply and demand of housing are inelastic in the short run, the initial shortage caused by rent control is large
a. True
b. False
Indicate whether the statement is true or false
False
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Every time you make a __________, you incur a(n) __________
A) decision; efficient effect B) choice; opportunity cost C) competitive move; price D) decision; mistake E) none of the above
Immiserizing growth is most likely to occur when
A. the increase in population equals the increase in national income of a country. B. economic growth leads to a deterioration of a country's terms of trade. C. the import payments of a country decline relative to its export earnings D. the benefits of economic growth are not shared equally by all residents of the country.
Under a floating exchange-rate regime, following an expansion in the money supply, the change in the value of domestic currency is most likely to
A. lower real domestic product. B. increase demand for exports. C. increase demand for imports. D. initiate foreign capital inflow.
The BLS has recently made explicit adjustments in its CPI calculations to control for
A. purchase location adjustments. B. consumer electronics quality improvement issue. C. substitution between goods. D. food safety quality issues.